News from the New York State and Local Retirement System

Tag Archives: marital property

One aspect of retirement planning some members may not consider is how a divorce may affect their retirement benefit. In New York, retirement benefits are considered marital property and can be divided between you and your ex-spouse. While some divorced couples may choose not to divide retirement benefits, it’s important to think about what you will need to do if your pension will be affected by divorce.

Preparing for Retirement: Part Five — Divorce and Your Pension

The Preparing for Retirement 7-part video series discusses the main aspects of retirement planning to help NYSLRS members nearing retirement make good, informed decisions for the future. In Part Five – Divorce and Your Pension, you’ll hear about how if you are divorced, your ex-spouse may be entitled to part of your pension. NYSLRS needs a valid domestic relations order (DRO) on file so we can have the instructions on how your pension benefits should be divided. You’ll also learn what resources NYSLRS has available to help you construct a DRO, if needed.

Where to Find More Retirement Planning Information

If you are close to retirement and have more questions, consider scheduling an appointment to meet with an information representative at one of NYSLRS’ consultation sites in New York State. Don’t forget to check back for the rest of the Preparing for Retirement video series, which includes retirement planning topics like: